Cybersecurity experts at NordVPN have issued a warning to users about a new way cybercriminals are using their victims’ devices to earn money – crypto malware.
While research shows that every third user is afraid of losing access to their computer files due to a cyberattack, cybercriminals can profit from hacking a device in other ways.
“The new type of malware we see spreading is crypto malware. The biggest problem is that it is difficult to detect for an average computer user because no data is lost,” says Adrianus Warmenhoven, cybersecurity advisor at NordVPN. “You may think you don’t need to worry because you don’t own or have never used cryptocurrency. But crypto mining malware doesn’t typically include hackers stealing funds from the victim’s cryptocurrency wallet, just using their device to mine. And as a result – making the victim’s device very slow.”
Mining cryptocurrency requires a lot of computer power to solve complex mathematical puzzles, adding new blocks of transactions to the blockchain. Once all the problems in a block are solved the miners get their rewards in cryptocurrency.
However, the problem is that the process is very slow and requires an incredible amount of processing power. In fact, the electricity a computer generates would probably cost more than the cryptocurrency it could mine. That is why cybercriminals look for ways to mine cryptocurrency using other people’s devices.
By infecting a network of computers with malware , hackers can mine crypto while using their victims’ electricity, devices, and computing power to increase their profits. Victims might not even notice that their device is mining crypto. The only sign may be slower performance and overheated devices.
“Detecting crypto malware on your device can be very difficult. It’s designed to be as stealthy as possible. However, certain signs can help you determine that your device may have been infected,” says Adrianus Warmenhoven, cybersecurity advisor at NordVPN.
The first sign that your device may be mining some criminal crypto in the background is that the device gets significantly slower. Another sign is an overheated device with the fan always on. Lastly, the CPU (central processing unit) usage will be very high if your device gets infected.
If you want to prevent your device from being infected, NordVPN says, there are certain actions you can take:
* Keep all devices and applications up to date. Crypto malware often uses unpatched flaws in systems. The faster you update your software and operating system, the harder it is for malware to infect your device.
* Use antivirus software. Antivirus software will scan files you download for malware making it difficult for cybercriminals to install it on your device. It will also block your access to malicious websites, minimising the threat of phishing.
* Practice good Internet behaviour. Don’t click on suspicious links, don’t download suspicious documents, and try not to visit untrusted websites. There are many ways in which cryptojacking malware could be delivered.